INK128 is a novel, orally available small molecule inhibitor of the TORC1 and TORC2 complexes, key components of the PI3K/mTOR signaling pathway, and it has shown promising antitumor activity in preclinical models of multiple myeloma. Earlier this year, Intellikine received an award of up to $1 million from the Multiple Myeloma Research Foundation (“MMRF”) as part of its Biotech Investment Award research award program to support clinical development of INK128 in patients with multiple myeloma. Intellikine anticipates initiating a Phase I clinical trial in patients with multiple myeloma in the second-half of 2010.